FDEWX vs. FCNTX

Last updated Jun 4, 2026

FDEWX (Fidelity Freedom Index 2055 Fund Investor Class) and FCNTX (Fidelity Contrafund) are both mutual funds - FDEWX is a Target Retirement Date fund managed by Fidelity, while FCNTX is a Large Cap Growth Equities fund managed by Fidelity. Over the past 10 years, FDEWX returned 11.95%/yr vs 17.43%/yr for FCNTX. Their correlation of 0.89 suggests significant overlap in exposure. FDEWX charges 0.12%/yr vs 0.39%/yr for FCNTX.

Performance

FDEWX vs. FCNTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom Index 2055 Fund Investor Class (FDEWX) and Fidelity Contrafund (FCNTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDEWX achieves a 12.62% return, which is significantly higher than FCNTX's 7.76% return. Over the past 10 years, FDEWX has underperformed FCNTX with an annualized return of 11.95%, while FCNTX has yielded a comparatively higher 17.43% annualized return.

FDEWX

• 1D: 0.46%
• 1M: 5.64%
• YTD: 12.62%
• 6M: 13.53%
• 1Y: 28.70%
• 3Y*: 19.54%
• 5Y*: 10.17%
• 10Y*: 11.95%

FCNTX

• 1D: -0.23%
• 1M: 3.65%
• YTD: 7.76%
• 6M: 10.05%
• 1Y: 23.72%
• 3Y*: 26.93%
• 5Y*: 15.12%
• 10Y*: 17.43%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FDEWX vs. FCNTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDEWX Fidelity Freedom Index 2055 Fund Investor Class	12.62%	21.39%	14.14%	19.95%	-18.01%	15.88%	16.46%	25.94%	-7.19%	20.53%
FCNTX Fidelity Contrafund	7.76%	21.76%	36.00%	38.67%	-28.31%	24.52%	32.48%	30.00%	-3.81%	32.18%

Correlation

The correlation between FDEWX and FCNTX is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jun 6, 2011	0.89

The correlation between FDEWX and FCNTX has been stable across timeframes, ranging from 0.85 to 0.89 - a consistent structural relationship.

FDEWX vs. FCNTX - Sectors Allocation Comparison

Sectors	FDEWX	FCNTX
Technology	25.9%	27.0%
Financial Services	17.1%	13.8%
Industrials	11.7%	8.6%
Consumer Cyclical	9.4%	10.1%
Healthcare	9.1%	9.2%
Communication Services	8.0%	21.2%
Consumer Defensive	5.2%	3.7%
Energy	4.7%	3.6%
Basic Materials	4.1%	2.1%
Utilities	2.8%	0.5%
Real Estate	2.1%	0.1%

Return for Risk

FDEWX vs. FCNTX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FDEWX

FDEWX Risk / Return Rank: 71
FDEWX Sharpe Ratio Rank: 75
FDEWX Sortino Ratio Rank: 69
FDEWX Omega Ratio Rank: 68
FDEWX Calmar Ratio Rank: 69
FDEWX Martin Ratio Rank: 75

FCNTX

FCNTX Risk / Return Rank: 35
FCNTX Sharpe Ratio Rank: 35
FCNTX Sortino Ratio Rank: 33
FCNTX Omega Ratio Rank: 34
FCNTX Calmar Ratio Rank: 32
FCNTX Martin Ratio Rank: 42

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FDEWX vs. FCNTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Index 2055 Fund Investor Class (FDEWX) and Fidelity Contrafund (FCNTX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FDEWX	FCNTX	Difference
Sharpe ratio: Return per unit of total volatility	2.51	1.72	+0.79
Sortino ratio: Return per unit of downside risk	3.46	2.39	+1.07
Omega ratio: Gain probability vs. loss probability	1.46	1.31	+0.15
Calmar ratio: Return relative to maximum drawdown	3.21	2.13	+1.08
Martin ratio: Return relative to average drawdown	14.20	9.04	+5.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDEWX vs. FCNTX - Sharpe Ratio Comparison

The current FDEWX Sharpe Ratio is 2.51, which is higher than the FCNTX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of FDEWX and FCNTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FDEWX	FCNTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.51	1.72	+0.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.79	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.89	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.78	-0.08

Drawdowns

FDEWX vs. FCNTX - Drawdown Comparison

The maximum FDEWX drawdown since its inception was -30.69%, smaller than the maximum FCNTX drawdown of -49.19%. Use the drawdown chart below to compare losses from any high point for FDEWX and FCNTX.

Drawdown Indicators

	FDEWX	FCNTX	Difference
Max Drawdown Largest peak-to-trough decline	-30.69%	-49.19%	+18.50%
Max Drawdown (1Y) Largest decline over 1 year	-9.07%	-11.30%	+2.23%
Max Drawdown (3Y) Largest decline over 3 years	-14.74%	-19.75%	+5.01%
Max Drawdown (5Y) Largest decline over 5 years	-26.22%	-32.59%	+6.37%
Max Drawdown (10Y) Largest decline over 10 years	-30.69%	-32.59%	+1.90%
Current Drawdown Current decline from peak	0.00%	-0.53%	+0.53%
Average Drawdown Average peak-to-trough decline	-4.23%	-8.16%	+3.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	2.65%	-0.60%

Volatility

FDEWX vs. FCNTX - Volatility Comparison

Fidelity Freedom Index 2055 Fund Investor Class (FDEWX) has a higher volatility of 3.53% compared to Fidelity Contrafund (FCNTX) at 3.26%. This indicates that FDEWX's price experiences larger fluctuations and is considered to be riskier than FCNTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDEWX	FCNTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	3.26%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	9.40%	10.48%	-1.08%
Volatility (1Y) Calculated over the trailing 1-year period	11.61%	14.03%	-2.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.39%	19.15%	-4.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.17%	19.68%	-4.51%

FDEWX vs. FCNTX - Expense Ratio Comparison

FDEWX has a 0.12% expense ratio, which is lower than FCNTX's 0.39% expense ratio.

Dividends

FDEWX vs. FCNTX - Dividend Comparison

FDEWX's dividend yield for the trailing twelve months is around 1.68%, less than FCNTX's 4.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCNTX Fidelity Contrafund	4.33%	5.21%	4.19%	3.78%	11.87%	10.80%	8.01%	4.16%	7.46%	6.08%	3.81%	5.33%
FDEWX Fidelity Freedom Index 2055 Fund Investor Class	1.68%	1.97%	1.98%	1.92%	2.24%	1.89%	1.85%	10.83%	2.36%	1.93%	2.42%	2.31%

Frequently Asked Questions

Can I hold both FDEWX and FCNTX in my portfolio?

FDEWX and FCNTX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDEWX or FCNTX?

FDEWX has higher volatility (3.53%) compared to FCNTX (3.26%). In terms of maximum drawdown, FDEWX dropped -30.69% vs FCNTX's -49.19%.

Which has better risk-adjusted returns?

FDEWX currently has the higher Sharpe Ratio (2.51 vs 1.72), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.